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Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
 Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high, even as they moderate from unprecedented levels in 2022. This should keep net leverage at manageable levels for most Fitch-rated entities, supporting adequate rating headroom.
We forecast the sector’s median EBITDA-based net leverage to remain low at 0.5x in 2023 (2022: 0.3x), underpinned by strong earnings, with coal prices staying above pre-2022 levels. Cash outlays are likely to be driven by diversification-related investments, with some miners initiating projects to move away from thermal coal amid investors’ heightened ESG concerns and tightening funding access. Nevertheless, most entities have sufficient cash buffers to support these investments. We expect capex requirements at most entities, except at PT ABM Investama Tbk (B+/Stable), to remain low, as none have major growth plans.
We also expect entities with a high accumulated cash balance to continue bond buy backs over the next 12 months, taking advantage of price discounts on their bonds to reduce debt and interest expenses. We believe the buy backs will lower refinancing requirements and improve companies’ financial flexibility amid the sector’s evolving funding access due to environmental considerations.
Source: Fitch Ratings
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Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
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- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Minerals Council of Australia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
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